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20130113
20130121
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similar things and have also had some success in creating more monetary policy support for the economy. >> you had mentioned that there has been evidence that the longer-term interest rates have come down to the initial round. concern is that the unemployment rate remains very high and activity would try to bring that down and one would hope to see additional movements from the most recent round. are you suggesting that one would need to be patient? needs a little bit more about how you would assess how this is having the kind of effect that you would anticipate? >> well, we will be doing that on a regular basis. we will be looking at the impact on financial markets and we will see some effect there. we will look to see whether or not the labor market situation. we first started talking about a .1% on employment, there has been some movement. there was nearly 40% of the unemployed having been out of work for six months or more. that is a situation where there are too many people i can give you specific criteria except to say that we will be assessing the impact of our actions a financi
spend on everything from education to public safety less as a share of the economy that has been true for a generation. that is not a recipe for growth. we have to do more to stabilize the finances over the medium and long-term, and also spur more growth in the short term. i have said i am hoping to making modest adjustments to programs like medicare to protect them for future generations. i also said we need more revenue for tax reform by closing loopholes for the wealthiest americans. if we combine a balanced package of savings from spending on health care and revenues from closing loopholes, we consult the deficit issue without sacrificing our investments in things like education that are going to help us grow. it turns out the american people agree with me. they listened to an entire year's debate over this issue, and they made a clear decision about the approach they prefer. they do not think it is fair to ask a senior to pay more for his or her health care or a scientist to shut down like that saving research so that a multi millionaire investor can take less in tax rates then a
the gulf we recognize that healthy echo systems also can mean healthy economies. and from louisiana what we have taken, what we believe is a very good first effort in addressing both the vulnerability that exist with the state's master plan has which is is a long-term plan addressing the ecological but reducing the risk across the coast. we believe we can achieve a 100-year protection for the community it's the resources that important. the ecological resource that's state provides and the gulf provides to the nation that if it's going to be afforded through the nation it has to provide protection to those communities who provide that. we believe that this plan we can have sustainable long-term healthy echo systems but also healthy communities and economies. there's an essence a form of what we call social engineering. if you can't ensure the communities, the supermarkets, the schools the things that community depend on, they will not survive. we want to make sure that we're developing both a healthy echo logical system but -- we have gone a long way in first attempt. it's not perfect. we h
the senate can take action as well. i wouldn't put any jeopardizing of the economy there. shows that it is a very rational, put us on a better path and i would think all the american public could support it in the senate as well. >> the house is also suggesting a policy of no budget, no pay. if lawmakers fail to do their job, the american people shouldn't pay them. bill? >> bill: what do democrats say about all of this, mike? >> they seemed to welcome the idea, the republicans sound willing to extend the debt ceiling. a spokesman for majority leader harry reid says if the house can pass a clean debt ceiling increase to avoid default and allow the white house to to meet its existing obligations we will be happy to consider it. they don't want the drama. >> debt ceiling in a manner that causes no concern to the economy and to global markets, that does not in any way suggest that washington is about to, you know, engage in another process that results in a self-inflicted wound to the economy. >> this afternoon, carney calls on congress to pass an extension of the borrowing limit wi
, for our economy cannot be overstated. the sovereign debt of the united states, for it to be questions that we would pay our bills or not, is not a scenario that we want to go through as a country. that would really harm us. that said, as i was coming back on the train from new york, i shared this with those with me. i said you're going down this track at 130 miles an hour. what would cause the conductor, knowing that if he veers off on this next rail to the right and pulled the switch that would cause that to happen, even if he knew it would put the train at severe risk by veering off to the right, what would be the only reason a person would go off that course rather than go straight? and the reason is that there's a larger cavern, kind of a grand canyon that we are about to go off. here's what i have concluded as a businessman and a seasoned public servant. the music will stop at some point with respect to where we are. when we are pouring $1 trillion a year, 40 cents on the dollar, you cannot do that into perpetuity. the time for leadership is right now. the time to address this is
that healthy ecosystems also can mean healthy economies. from louisiana, what we have taken -- what we believe is a very good first effort the addressing the vulnerabilities that exist in reducing that risk is with the state's matter of fact plan which is a long- term plan to reduce the economic significance and reduce the risk across the coast. we believe we can achieve protection for all coastal communities. it is that resource that is important. the states provide and the gulf provides to the nation, it if it is going to be afforded through the nation. we believe with this plan we can have sustainable healthy ecosystems but also healthy communities. there's an essence of -- there is a form of social engineering because if you can't ensure the communities, the supermarket, the schools, the things that the communities depend on, the communities will not survive. we want to make sure we will develop a healthy system but also healthy communities that can provide those resources. we have come a long way, it is not perfect but we have a plan to achieve this sustainability and protecting the commu
is greater than our nation's economy exceeding our g.d.p. and we have on the floor floor toda legislation that calls upon our children and grandchildren even greater burdens of debt. it's time to end the credit card economics. we simply cannot afford to spend money that we are borrowing from countries like china on-line items we don't need and constitution isn't authorized to spend. my amendment strips one line item out of this bill. this is really low-hanging fruit. the sandy relief effort was increased by $1 million to boost the legal services corporation, massacre aiding as disaster relief and i thought we had a ban on earmarks in this congress. why is a bailout for new york lawyers emergency hurricane relief, even if you believe this is a legitimate government program which i don't, by the way, how can you argue that spending on lawyers is a legitimate emergency spending? let me say again, for $-- we are $16 trillion in debt, we are $16 trillion in debt, america. we simply cannot afford to continue like this. we cannot keep spending on money we don't have on things we can't afford and
or to radically, giving too much money into many loans purses to few. banks are important part of the economy and the finance new job growth and the ability of people to buy a home, which is the largest single investment that they will make. we really need for them to be there to help the consumers and businesses finance their operations. the balancing act is not being too strict so that they will draw in and not land but not being too lax. that is a fine line. we shall we shallthe cfpb has achieve that with these rules. financial institutions will complain about any regulation because they did not want to be subject to kinds of rules that instruct them in how to do their business. when you read the complaints from the financial industry, i would say we have to take some of those with a grain of salt. host: gretchen morgenson is the "the new york times" assistant business and financial editor. she was co-author of "reckless endangerment.' guest: who basically were the interco parties in creating the crisis decades later. host: don is next from clifton, virginia. caller: a good time to segue t
Search Results 0 to 7 of about 8